Silverstar Mining Enters Into Letter of Intent
Silverstar Mining Corp. (OTCBB: SLVM) is pleased to announce that it has entered into a Letter of Intent with Gold Canyon Partners, LLP to examine and possibly acquire 100% of the Cobalt Canyon Gold Project located in Lincoln County, Nevada.
“The Cobalt Canyon complex was drilled and reviewed by Homestake Mining and Barrack Gold in the 1980s and even then showed encouraging results. We would regard this as a significant addition to our portfolio of precious metals properties in North America,” said Silverstar CEO Jim MacKenzie. “I believe this could be a great opportunity for Silverstar’s future growth and our shareholders,” Mr. MacKenzie added.
The Cobalt Canyon properties are located in the Chief Mining District of southeastern Nevada. The project includes numerous small underground mines within the Chief District situated just north of Caliente, Nevada. The project includes 22 unpatented federal lode claims (approx. 363 acres) and an option to acquire 59 acres in three patented mining claims.
“The principals of Gold Canyon Partners have delineated a potentially large and profitably ore body with significant gold values, and we are eager to participate in bringing the Cobalt Canyon property into further development and, ultimately, operation,” Mr. MacKenzie said.
About Silverstar Mining Company
Silverstar Mining Corp. (OTCBB: SLVM) is a late-stage explorer and developer of silver, gold, and related non-ferrous metals in North America. Through exploration and acquisition initiatives, and in strategic partnerships with other respected miners, we intend to put silver and gold production on our books this year even as we expand our land position in productive, politically stable metal-mining districts in the Western Hemisphere.
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Disclaimer This release contains forward-looking statements that are based on the beliefs of Silverstar Mining Corp.’s management and reflect Silverstar Mining Corp.’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words “estimate,”"project,”"believe,”"anticipate,”"intend,”"expect,”"plan,”"predict,”"may,”"should,”"will,”"can,” the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Silverstar Mining Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.
On Behalf of the Board: Jim MacKenzie Silverstar Mining Corp. 621 Bank Street Wallace, Idaho Phone: 604 960 0535 Email: Info@silverstarmining.com
SOURCE: Silverstar Mining Corp.